Develop a Risk Management Strategy using Telematics

Your fleet and drivers are your company’s most vital assets. Whether you are operating a fleet of 5 or 25 vehicles, ensuring fleet and driver safety is amongst the most important responsibilities of a fleet manager. To achieve this duty, you need to implement an effective risk management strategy. This will not only help keep your vehicles and drivers safe, but will help minimise the risks of your business incurring unnecessary costs.

One of the most challenging tasks for fleet managers is to ensure driving
safety. According to Automotive Fleet
Magazine, the accident rate for commercial fleets in America is around 20% every
year. Some of the fatalities are attributed to poor driving behaviour and
distracted driving. A US
Department of Transportation research
study showed that distracted driving in 2008 contributed to at least 515,000
injuries and 5,870 deaths in the US.

The key to protecting your fleet and drivers is to employ telematics in your business. Through its ability to generate vehicle operating data, like the vehicle’s real-time location, speed, harsh braking, acceleration, and idle time, you can enjoy significant benefits. Aside from enabling you to monitor the movements of your vehicle in real-time, these benefits will help you:

2. Monitor Vehicles to Ensure Drivers Do Not Misuse Them

Telematics can help fleet managers address one of their biggest challenges – securing your fleet when the vehicles are out for deliveries. By monitoring the vehicles’ real-time location, you can ensure that drivers do not misuse or deviate from the route without any reasons.

3. Set Fleet Safety Policies using the Exceptions Rules Feature

By setting up fleet risk management
procedures through MyGeotab’s Exception Rules feature, fleet managers can
create a safe driving culture. This feature allows fleet managers to select
specific rules in the exceptions report for a specific vehicle, driver and time
period. Various exceptions can be set to guide driver behaviour, ranging from
speed, idling time, and braking. Read more on how to prevent
dangerous driving behaviour with Exception Rules.

4. Maintain Vehicles by Monitoring Engine Data

Geotab’s fleet management software also offers engine diagnostics data. By monitoring engine information, you can plan regular vehicle maintenance and also attend to engine issues early, before they turn into costly repairs. This will not only save you money, but will extend the lifespan of your fleet and ensure that it is safe to drive.

5. Prevent Reverse Parking Lot Accidents

Accidents can occur unexpectedly, particularly when reverse parking. But fleet managers can prevent such avoidable incidents by using telematics. The patented technology in Geotab’s GO7 devices helps detect in-reverse motions of the vehicle to help drivers avoid crashing during this activity.

6. Track Your Fleet for Security

While it’s great to be able to monitor your vehicles and drivers location in real-time, this feature may also be valuable if one of the vehicles is stolen. With the help of the stolen vehicle recovery system and police, fleet managers can locate and recover the vehicle almost immediately.